Nova Trading | WEEKLY BTC UPDATE | 9 OCT - 16 OCT OCT 2021

So for this week $Bitcoin did again exceed all expectations.

We have broken the previous highs all in 1 big run. No pullback's so far. This indicates a lot of buyers strength. If we break 65k this would be a sign of a new ATH which causes a lot of "fomo".
There will be a lot of seller's and "shorters" once we hit the 65k level so be aware about the volatility.

If we pullback, i would see the 60k - 55k as a bouncing area, possibly ranging there a bit as an "accumulation zone" to gain holders and push the price thru 65k into price discovery eventually.

Right now is not a good moment to "LONG" trades, instead, wait for an opportunity when the market calms down or pull's back!